Perficient

SEPTEMBER 16, 2022

The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. These systems, risk management, and controls must cover: Operational risk , including: the risks of new, evolving technologies, the risk of hacking, fraud, theft, the risk of third-party relationships). Financial risk.

Compliance 275

Compliance Risk Management System Regulation 275

Abrigo

DECEMBER 28, 2022

Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . Abrigo, a leading technology provider of software solutions for financial institutions, published more than 85 unique articles on its industry-focused blog in 2022.

Fraud 195

Fraud Training Compliance Regulation 195

FICO

NOVEMBER 23, 2021

FICO has announced its panel of independent judges for the 2022 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. 2022 Judges (Left to Right): Sidhartha Dash, Paul Deall, Senthil Erulappan, Armando Junior.

Meeting 52

Meeting Analytics Risk Management Management 52

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Bobsguide

AUGUST 7, 2022

London, UK – August 3, 2022 – Finastra announced today that The Co-operative Bank has selected Finastra Kondor in the cloud, available via Microsoft Azure, to upgrade its treasury infrastructure and automate manual reporting and processes. About The Co-operative Bank. For more information, visit finastra.com.

Operations 68

Operations Strategy Innovation Policies 68

CFPB Monitor

JUNE 30, 2022

On June 23, 2022, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (SRP) for spring 2022. BSA/AML Compliance Risks. The OCC has long been concerned with operational risks posed to banks from cyber attacks. The OCC decries the climate risk and pollution caused by such crimes.

Compliance 78

Compliance Fraud Technology Operations 78

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

Security 195

Security Regulation District of Columbia United States 195

FICO

MAY 18, 2022

On our fourth and final day at FICO World 2022 last week, 24 of our customers took to the main stage to receive recognition as winners in our FICO Decisions Awards. The stories of the 2022 and 2021 FICO Decisions Awards Winners. Regulatory Compliance. Winners take the stage. AI, Machine Learning & Optimization. Cloud Deployment.

Innovation 52

Innovation Analytics Management Maine 52

Jeff For Banks

DECEMBER 16, 2022

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. As of or for the year-to-date September 30, 2022, the Company had $3.1 billion in total assets at September 30, 2022, fueled by organic growth and acquisitions. Silvergate Capital Corporation (NYSE: SI) #2.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

JUNE 7, 2022

On May 25, 2022, my colleagues, Mike Gordon, John Culhane and Ron Vaske published a blog which reported on a press release issued by the CFPB on the prior day entitled “CFPB Launches New Effort to Promote Competition and Innovation in Consumer Finance.”

Innovation 78

Innovation Compliance Conference Operations 78

Perficient

FEBRUARY 16, 2021

unemployment rate in the “Severely Adverse” scenario rises by four percentage points from its starting point, reaching a nadir of 10.75% in the third quarter of 2022. Also, banks with substantial trading or processing operations will be tested against the default of their largest counterparty.

Exercises 309

Exercises Capital Analysis Lending 309

Perficient

NOVEMBER 22, 2023

Rising Credit Card Debt and Interest Rate Impact Since early 2022, the Federal Reserve has raised interest rates 11 times , impacting both student loans and credit cards. While the temporary pause was beneficial, it left numerous individuals still grappling with the task of managing their additional financial obligations.

United States 221

United States Cards US Operations 221

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Wed, 08/03/2022 - 12:40. Convergence – Beyond Fraud and Financial Crime Compliance. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

FICO

NOVEMBER 24, 2021

The 2022 Chartis RiskTech100® Report is live, and I am proud to announce that FICO ranked 6th overall in the annual report and was named the category winner for: Innovation (5th consecutive year). This involves operationalizing AI and predictive analytics to break down silos and become central to client operations. by Darryl Knopp.

Report 52

Report Analytics Company Innovation 52

Perficient

JANUARY 25, 2023

Banks are focused on efficiency initiatives to optimize their operations and lower costs. While institutions want to increase their technology play, they are weary of overcomplicating operations. Here are five banking trends we’re forecasting for the new year.

Banking Trends 474

Banking Trends Trends United States FDIC 474

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. But fear not, compliance-conscious compadres.

Compliance 109

Compliance FDIC Strategy Fintech 109

FICO

DECEMBER 14, 2021

As we move forward into 2022, we are seeing the first signs of some interesting trends that will pick up pace across borders. As such, we’ve seen a slow emergence of a black market for the sale of fake vaccine passports and it is on its way to becoming a lucrative industry in 2022. Related scams have also been on the rise.

Fraud 52

Fraud Management Data Trends 52

Abrigo

JULY 13, 2023

billion in fraud losses in 2022. billion in 2022, a 127% increase from $1.45 billion loss in 2022. Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems. billion in 2021.

Fraud 195

Fraud cryptocurrency Training social media 195

Bobsguide

MARCH 24, 2022

Finastra and CloudMargin Collateral Management as a Service offering accelerates compliance with UMR regulation. It’s estimated that the new Phase 6 of UMR, due to come into effect in September 2022, will affect 1,000 additional entities for the first time. Corporate headquarters. 4 Kingdom Street. Paddington. London W2 6BD.

Compliance 60

Compliance Management Regulation Software 60

Abrigo

DECEMBER 22, 2023

You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results." Construction loan and delinquency trends in 2023 Construction lending projections look positive according to S&P data from 2022 and 2023. Reduce operating cost while ensuring loan policy consistency.

Lending 221

Lending Risk Management Community Management 221

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. CECL's impact on operations.

Survey 195

Survey Software Resources Meeting 195

Perficient

FEBRUARY 2, 2023

In fact, according to The Business Research Company’s 2022 Payment Security Global Market Report , the payment security market is expected to reach $43 billion by 2026. Both Visa and Mastercard rolled out pilot biometric payment cards in 2022. billion in 2021, a year-on-year growth of 65%.

Industry 471

Industry Trends social media Payments 471

CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments have a short comment period ending on August 8, 2022, followed by the publishing of the official proposed amendments, after which a 60-day comment period will occur.

Regulation 147

Regulation Cyber Security New York Trends 147

CFPB Monitor

NOVEMBER 16, 2022

On November 15, 2022, the FTC announced that it was extending by six months the deadline for companies to comply with some portions of the updated Safeguards Rule. While some components went into effect 30 days after publication, the most substantive changes were set to go into effect on December 9, 2022. .

Training 78

Training Security Compliance Meeting 78

Perficient

MARCH 3, 2021

The Covid-19 pandemic has accelerated multicloud adoption and research predicts that workloads primarily executed in cloud-based external environments will increase from 36% in 2020 to 63% in 2022. Operating expenses are high for maintenance. Or operational requirements like: Data quality. API management. Master data.

Data 309

Data Exercises Management Risk Management 309

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. The complexity and scope of a loan review system will vary based on an institution’s size, type of operations, and management practices.

System 195

System Regulation How To Lending 195

CFPB Monitor

DECEMBER 8, 2022

As we noted in our prior blog post that is linked above, “[a] potential approach that the CFPB may take is to re-implement the 25 closed-end loan threshold for the 2023 reporting year, with institutions that originated at least 25 covered closed-end mortgage loans in both 2021 and 2022 being subject to HMDA requirements for closed-end loans.”

Report 78

Report Resources Data Policies 78

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.”

cryptocurrency 146

cryptocurrency Innovation DC National 146

CFPB Monitor

NOVEMBER 9, 2022

On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation. The proposed regulations would create three different tiers of companies based on their size, operations, and nature of their businesses.

Regulation 78

Regulation Compliance New York Training 78

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. In addition, they may consider focusing on these five critical areas: Improve Operating Leverage. To the extent projects improve operating leverage and the total experience, so much the better.

Community Bank 195

Community Bank Capital Training Lending 195

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. Here are the five most-viewed posts from 2022 on the FICO Blog related to fraud. Fraud Trends for 2022: Top 5 Includes "Scamdemic" and Bad Bots. Card Skimming Fraud Grows 700+% in First Half of 2022. FICO Admin. Tue, 07/02/2019 - 02:45. These included: 1.

Fraud 52

Fraud Cards Analytics Oakland 52

Abrigo

FEBRUARY 9, 2023

Name screening for sanctions compliance Understand regulatory expectations surrounding name screening and the best lists for your risk-based AML program. This helps banks and credit unions operate an effective risk assessment and refrain from violating sanctions. Learn from the experts. Unfortunately, the U.S.

Fraud 195

Fraud Training Software Compliance 195

FICO

MAY 2, 2023

I sat down with UK lenders in two roundtable discussions in March to explore the different approaches being taken to Consumer Duty compliance. Get the Best out of Data To get past this challenge, firms should be seeking to ensure that their decision making is at a customer level and does not operate in departmental or product siloes.

Compliance 52

Compliance How To Tools Strategy 52

Perficient

FEBRUARY 16, 2023

What is ServiceNow Financial Services Operations (FSO): Financial Services Operations (FSO) is an out-of-box offering by ServiceNow utilizing its existing platform custom-tailored to the use cases for Financial Institutions providing a comprehensive solution for managing operations end-to-end.

Operations 474

Operations Industry Compliance Management 474

CFPB Monitor

JUNE 14, 2022

The CFPB’s termination order recites that in April 2022, pursuant to the NAL, Upstart notified the CFPB that it intended to add a significant number of new variables to its underwriting and pricing model. The NAL included a requirement for Upstart to notify the Bureau of any significant changes to Upstart’s model before implementation.

Innovation 148

Innovation Analysis Resources Compliance 148

Independent Banker

JANUARY 31, 2022

which operates $12 billion-asset OceanFirst Bank N.A. There is a lot of time and energy spent, not only making sure that credit decisions are appropriate, but also managing the compliance aspect,” Maher says. in Toms River, N.J. Jenny Bennett, market president at $850 million-asset Summit Bank in Eugene, Ore., saw something similar.

Lending 150

Lending Community Community Bank Compliance 150

Bobsguide

APRIL 27, 2022

The addition of Nodeware to the ThreatAdvice Breach Prevention Platform reduces the risk of ransomware or other cyber-attacks and ensures that a company or organization is meeting ever-changing industry compliance requirements. This was a huge honor for the solution, which was only introduced to the MSP space in February of 2022.

Atlanta 147

Atlanta United States Tools Security 147